The current Bitcoin price has reached 96k, breaking through the trend line from the high point of 99.6k to the recent downward shock.
On the upside, it has broken through the resistance of the recent trend line. If it breaks through the previous high, there is a greater possibility of a new high;
On the downward side, one is the support of 90-92k mentioned earlier, and the other is the support of 85-87k. Generally speaking, it is still in a state of shock for the time being. I hope there will be a longer period of shock, so that the copycat stocks will have more time to make up for the losses.
Looking at Ethereum, it has had a good momentum in the past two days and is still generally stronger than Bitcoin. The trend is good. As for other altcoins, overall, Ethereum has seen more of a rebound recently, while the performance of the others is average.
From the overall sector rotation perspective, it has now reached:
Bitcoin → meme, AI → old layer1 → Ethereum and its ecosystem →?
Although Bitcoin has frequently adjusted recently, the altcoin market has not seen significant declines:
This wave of the market is mainly concentrated on old coins on CEX, with almost all old coins rising over 30% over the weekend. This wave is somewhat similar to the trend after the DeFi craze in 2020, when large funds collectively returned to CEX. Few people were able to successfully catch the CEX market at that time; many made money in DeFi but missed the opportunity in CEX. The situation this time is quite similar.
Ethereum now also shows signs of revival. Observing the market, it can be seen that during this round of Bitcoin's pullback, altcoins did not follow the decline much. The performance of the king of altcoins, ETH, even exceeded the overall market index CoinDesk 20, which had an increase of 0.5% during the same period.
The market sector rotation is underway, and investors are starting to shift funds to smaller, higher-risk cryptocurrencies, which has led to outstanding performances from altcoins like ADA and DOGE. In contrast, Bitcoin's explosive growth since Trump’s election has stalled.
However, it is important to note that the altcoin sector is currently only rebounding. After a good space, it is still necessary to take profits. Unless there are significant application innovations in Ethereum, a trend-driven bull market arrives, or new innovative sectors emerge among altcoins with market speculation!
Every pullback is actually the best opportunity to enter, but priority should be given to leading projects, public chains, DeFi, L2, AI, and other mainstream options in the market, as these are usually the first choices of the market!
The upcoming time is the most crucial turning point for retail investors:
1. BTC.D is expected to peak between November and December, marking the end of BTC's strong period over the past three years, while the golden age of altcoins is about to begin, bringing unprecedented wealth opportunities.
2. Historical data shows that in the eighth month after the last two halving cycles, altcoins broke through historical highs in an unstoppable manner. This trend is expected to reappear in January 2025 in this cycle.
3. In the upcoming time, the increase in BTC is expected to reach up to a doubling range, while ETH may rise 2 to 4 times, fluctuating between 9000 to 10000, and altcoins are generally expected to see astonishing growth of 5 to 10 times. Let's welcome this feast of the bubble era together and prepare for challenges and opportunities.
The once-in-four-years opportunity to change your fate is coming. Let's see if you can seize it.
Over the weekend, altcoins started to rise broadly. Let's take a look at our recent profits:
Recommended around aave150, which is considered an old star project in DeFi. It hasn't performed significantly in this round, and is more of a medium to long-term position. This wave has only gained 30% from the bottom. We can continue to hold for a doubled profit without much issue. It's definitely necessary to take a part of the position when this star project in the sector gives a low opportunity. Once the ecosystem starts to explode, Aave's potential should not be underestimated!
Now let's look at the public offerings:
Started recommending at FET1.3, last week was because of AI's earnings report choice to lay low, but the earnings report was somewhat unexpected, not showing significant performance. However, with the AI conference coming up, it has become more certain that AI will have performance space later. Coupled with the fact that AI itself is a strong sector, it hasn't performed much in this round. I firmly hold, and the broad rise starting over the weekend was expected. This wave has achieved a 38% profit, and I have already notified to reduce positions by 30%, keeping the remaining base to aim for a doubled target and expectations!
Additionally, we can see that any altcoin we lay out will not make everyone chase high prices. Instead, we position ourselves at low levels to obtain expected returns. If you chase high prices, the risk of being trapped is very high. For example, the earlier pnut and act were recommended by Crab Boss at low levels, but many friends still chased high prices, resulting in a situation where the general rise hasn't even reached the cost price yet. Such operations are very problematic, and I hope friends can review more, pay attention to costs, and not chase high!
